CDC Group and EBRD to create pan-African pharma

Development Partners International (DPI) through its ADP III fund, CDC Group, the UK’s publicly-owned impact investor, and the European Bank for Reconstruction and Development (EBRD) have joined forces in a ground-breaking deal to create a major new player in the pan-African pharmaceuticals industry.

The three founding investors have committed an initial $250 million of capital that have been used to fund the acquisition and combination of Adwia Pharmaceuticals, an Egyptian generic drugs manufacturer, and Celon Laboratories, an Indian oncology and critical care specialist. The platform will leverage its manufacturing and R&D center of excellence in India to strengthen its local manufacturing operations in Africa, while capturing synergies from centralized supply chain management and business development.

Supported by up to an additional $500 million fund raise